How Have You Done Since Redundancy?

starrystarry

I'm being made redundant on 4th Jan. I've got 12 years service and I'm due approx £22k redundancy. New job lined up already, start on 7th Jan, salary is £5k more and I'll be working from home

Redundancy can be a horrible thing, but it can also be a fantastic opportunity for many people.

curlywurly82

Last year we found out two days before we broke for Christmas that there was nothing to come back too. I had worked for the same boss for seven years however because he started a new company when he split up with his wife we we didn't get a payout.

I was lucky in that I had some savings to tide me over and I decided to take my time in finding a job rather than take the first thing I was offered. I had 8 weeks not working which was strange but the break did me good.

I am now working for a large (35k employee) company. I have taken quite a paycut but there are prospects there and i work 20 hours week less on average and get another weeks holiday a year.

It is a much better environment to work in and my friends and family have all commented that I seem to be a lot happier now.

Moneymaker

I was made redundant for the second time in 3 years back in 1995. I spent the morning working out exactly how much I needed to earn per day just to survive. I spent the afternoon clearing the garage to make a working space. I spent my £500 redundancy on components and tools. I typed a letter and sent a copy to every shop within 50 mile radius that might use my repair services and drove around the nearest ones to introduce myself personally.

Within a week I was earning typically £50 a day. Within a month that had grown to £100 per day. Later I set up a web site and started selling mail order, just accepting cheques. Soon there weren't enough hours in the day. I bought myself a used car for £7500. I seldom carried less than £300 in my wallet.

Redundancy was the kick I needed to earn money for myself instead of for someone else.

cottyh24

I was made redundant as of 16th Nov this year with a £4,300 payout. I was totally shocked and a bit upset when I was made redundant as I had been there over 10 years and had passed up job opportunties in the past out of a sense of loyalty to the organisation. I was also really worried about not being able to find employment and being unable to pay bills but on 20th November I had my second interview for a job and got it. I'll be starting in January so will have had a nice break over Christmas. It's a bit of a pay drop and it is going to be a weird being the 'new girl' but I cannot wait to start there.

Despite my initial shock and upset, I actually think being made redundant has been a really good thing for me as I'd been thinking about leaving for a while now but had been putting it off. I may not be saying that if I hadn't secured new employment though...

NEWSTART_2

Pleased to read so many good outcomes. Not the same for me though. Made redundant from a public sector job a year ago, been in the same admin job for 14 years so both worried about the future but ready for a change. Still unemployed. Applied for admin jobs without success so tried retail. Had two interviews but told not enough experience so been doing voluntary work in a charity shop since Feb but guess there's lots of applicants as now being rejected at application stage. Getting more difficult to stay motivated.

Moneymaker

One mistake people made is to think of the problem as "finding a job" rather than "making money". There are plenty of (legal) ways to make money - sometimes lots of it. You just have to look around to find a need. People with money will generally pay you to do or find something that they can't do or find themselves. So your target is people with money who have a problem.

Yorkie1974

I was made redundant on 31 October with a £4700 payout. Over the three months of my notice (and indeed, during the consultation period), I set about planning to set up my own business so I hit the ground running on 1 November. I've taken on a part-time employee, and this month, invoiced more than I had forecast - and we've got really exciting plans for the next 12 months.

I suspect it is not going to be all plain sailing - learning about tax, payroll and sorting contracts, etc has been incredibly daunting, but I think I've got my head round that now (and I have a family member who is an accountant - never underestimate the value of free professional advice!).

For me, redundancy was the impetus to make life better after being comfortable in a job for 10 years. I can now pick the kids up from school most days, have no commute and so save a fortune on petrol. True, I work far longer hours now, but they are at a time to suit me, and I know that my work is being rewarded.